VW’s shocking announcement of forthcoming factory closures - the first time ever in the history of the company - is a stark illustration of the challenges facing Germany, and the European economy as a whole. Outcompeted by China on manufacturing, and by the US on software services, Europe missed the opportunity of key technology innovations in the last decade - smartphone, social web, cloud, 5G, EV’s - despite often being in the lead and has been left ‘selling the past’ in the form of tourism and luxury goods. Europe needs to recover its mojo, statim.
